Financial Performance - The company's operating revenue for the first half of 2022 was ¥359,724,488.51, representing a 5.35% increase compared to ¥341,444,656.50 in the same period last year[23]. - The net profit attributable to shareholders of the listed company decreased by 6.38% to ¥52,702,518.42 from ¥56,294,644.31 year-on-year[23]. - The basic earnings per share decreased by 9.09% to ¥0.20 from ¥0.22 in the same period last year[23]. - The company achieved operating revenue of 359.72 million yuan, a year-on-year increase of 5.35%[35]. - The net profit attributable to shareholders was 52.70 million yuan, a year-on-year decrease of 6.38%[35]. - The total operating revenue for the first half of 2022 was CNY 359,724,488.51, an increase of 5.5% compared to CNY 341,444,656.50 in the same period of 2021[141]. - Net profit for the first half of 2022 was CNY 52,702,518.42, a decrease of 6.4% from CNY 56,294,644.31 in the first half of 2021[143]. - The total comprehensive income for the first half of 2022 was CNY 52,702,518.42, compared to CNY 56,294,644.31 in the same period of 2021[143]. Cash Flow and Investments - The net cash flow from operating activities was negative at ¥33,330,425.01, a decline of 287.50% compared to a positive cash flow of ¥17,776,153.23 in the previous year[23]. - The net cash flow from operating activities decreased significantly by 287.50% to -¥33,330,425.01, mainly due to increased payments for goods and services[46]. - The net cash flow from investing activities was -3,711,687.06 CNY, compared to -42,404,134.64 CNY in the previous period, indicating an improvement[152]. - The net cash flow from financing activities was -14,259,771.70 CNY, a significant decrease from -93,716,311.90 CNY in the prior period[152]. - The company reported a total of ¥2,674,860.86 in non-recurring gains and losses during the reporting period[27]. - The company’s total investment during the reporting period was ¥188,135,483.39, reflecting a 37.84% increase from ¥136,484,321.88 in the same period last year[58]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,464,373,140.48, a 0.79% increase from ¥1,452,907,762.75 at the end of the previous year[23]. - The company’s total assets amounted to CNY 1,256,234,296.01, a slight decrease from CNY 1,279,579,343.20 year-on-year[142]. - Total liabilities decreased to CNY 96,061,716.11 from CNY 124,974,613.65, reflecting a reduction of 23.2%[142]. - The total amount of raised funds is 49,031.00 million, with 30,708.08 million utilized by June 30, 2022, leaving a balance of 19,910.39 million in the special account[63]. - The total guarantee amount approved for subsidiaries is CNY 52.4 million, with an actual guarantee amount of CNY 4 million during the reporting period[108]. Research and Development - Research and development expenses rose by 29.62% to ¥9,366,453.11, primarily due to the consolidation of subsidiary Xiangzhao Technology[46]. - The company focuses on R&D based on customer needs and market trends, with three main R&D approaches: custom product development, market-driven new product design, and equipment technology improvement[34]. - The company has been recognized as a high-tech enterprise in Guangdong Province, enhancing its competitive edge in technology and innovation[42]. Operational Risks and Challenges - The company faces various operational risks, which are detailed in the report, and has outlined corresponding countermeasures[5]. - The company has successfully navigated challenges such as the pandemic and rising raw material costs, maintaining stable performance during difficult periods[35]. - The ongoing COVID-19 pandemic presents risks related to operational disruptions and supply chain interruptions[77]. - The company is exposed to exchange rate fluctuations as its main raw material, HDPE, is imported and priced in USD[74]. - The price volatility of key raw materials, especially HDPE, poses a risk to the company's operating performance[75]. Shareholder Information - The total number of shares is 260,000,000, with 184,478,300 shares (70.95%) under limited sale conditions and 75,521,700 shares (29.05%) under unrestricted sale conditions[118]. - The largest shareholder, Chen Jinpei, holds 52.79% of the shares, totaling 137,265,800 shares, with no changes during the reporting period[120]. - The second-largest shareholder, Chen Wanru, holds 11.60% of the shares, totaling 30,150,000 shares, with no changes during the reporting period[120]. - The shareholding structure indicates that the top three shareholders collectively control 70.16% of the company[121]. Corporate Governance and Compliance - The half-year financial report has not been audited[93]. - The company did not experience any significant environmental issues or administrative penalties related to environmental protection during the reporting period[88]. - There were no major lawsuits or arbitration matters during the reporting period[95]. - The company did not have any related party transactions during the reporting period[96]. - The company has not reported any changes in the scope of consolidated financial statements during the reporting period[175].

金富科技股份有限公司 2022 年第一季度报告全文 证券代码：003018 证券简称：金富科技 公告编号：2022-016 金富科技股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的 真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增 | | --- | --- | --- | --- | | | | | 减 | | 营业收入（元） | 170,867,467.18 | 148,154,406.10 | 15.33% | | 归属于上市公司股东的净利润（元） | 25,195,866.83 | ...

Financial Performance - The company's operating revenue for 2021 was ¥659,388,290.28, representing a 28.20% increase compared to ¥514,361,903.74 in 2020[17] - The net profit attributable to shareholders for 2021 was ¥121,326,894.47, a 37.54% increase from ¥88,208,974.16 in 2020[17] - The net profit after deducting non-recurring gains and losses was ¥116,020,277.11, up 38.81% from ¥83,582,432.65 in 2020[17] - The net cash flow from operating activities was ¥180,025,008.70, an increase of 34.60% compared to ¥133,745,865.15 in 2020[17] - The basic earnings per share for 2021 was ¥0.47, a 6.82% increase from ¥0.44 in 2020[17] - The diluted earnings per share for 2021 was also ¥0.47, reflecting the same 6.82% increase from ¥0.44 in 2020[17] - The weighted average return on equity for 2021 was 9.45%, down from 11.08% in 2020[17] - The operating profit for 2021 was CNY 144,615,508.89, reflecting a growth of 40.21% year-over-year[40] - The total operating revenue for 2021 reached ¥659,388,290.28, representing a year-on-year increase of 28.20% compared to ¥514,361,903.74 in 2020[45] - The net profit attributable to shareholders for the entire year was CNY 121,326,094.47, showing a year-on-year increase[22] Market Position and Growth - The plastic packaging industry in China is expected to grow, with the bottled water market projected to reach CNY 3,131 billion by 2025, growing at a CAGR of 5.0% from 2021 to 2025[29] - The company has become one of the largest suppliers of plastic anti-theft bottle caps in China, focusing on the beverage industry[31] - The company has maintained a stable growth trajectory in the plastic packaging sector, benefiting from the rising demand for bottled water driven by consumer health trends[28] - The sales volume of plastic anti-theft bottle caps increased by 20.15% year-on-year, reaching a record high[40] - The company has established long-term partnerships with major clients such as China Resources Beverage and Coca-Cola, ensuring stable business operations[37] Acquisitions and Investments - The company acquired 100% of Xiangzhao Technology, enhancing its product offerings in new pull-ring caps and expanding its market presence[32] - The company completed the acquisition of 100% equity in Xiangzhao Technology, with an investment amount of 156.8 million yuan, fully funded by raised capital[76] - The company has committed to a permanent replenishment of working capital amounting to 5,000 million RMB[89] - The company has confirmed that it will not transfer shares until all compensation responsibilities are fulfilled[177] - The company acquired 100% equity of Guilin Xiangzhao Technology Co., Ltd. for RMB 126.86 million and plans to inject an additional RMB 30 million for debt repayment[179] Research and Development - Research and development (R&D) investment amounted to CNY 17,770,685.12 in 2021, reflecting a 25.62% increase from CNY 14,146,445.52 in 2020, with R&D expenses accounting for 2.70% of total revenue[66] - The number of R&D personnel increased to 67 in 2021, up 24.07% from 54 in 2020, with R&D personnel now representing 10.40% of the total workforce[66] - The company is developing a high-precision aluminum cap stamping process, which aims to improve quality stability and production efficiency[63] - The new pull-tab cap business has become a stable profit source for the company, with plans to increase sales efforts and R&D investment in 2022 to expand its application and sales scale[99] Operational Efficiency and Management - The company is focusing on recruiting high-quality talent to enhance the management team's overall strength in response to the growing operational scale[43] - The company has established a new training system to improve the professional skills of employees and management capabilities[43] - The company has implemented a performance-based compensation system for senior management, linking salaries to work performance[136] - The company has established a rigorous internal control system in compliance with regulatory requirements, ensuring effective management and supervision[159] Financial Management and Governance - The company has established a robust financial management system in compliance with accounting standards, ensuring independent financial operations and tax compliance[118] - The company has designated multiple media outlets for information disclosure, ensuring timely and equal access to information for all shareholders[115] - The company maintains complete independence from its controlling shareholders in terms of assets, personnel, finance, and operations, ensuring a fully autonomous business operation[117] - The company has committed to maintaining transparency in its financial dealings and related party transactions[172] Risks and Challenges - The company faces a supplier concentration risk, with over 50% of total procurement coming from the top five suppliers, primarily for HDPE, aluminum sheets, and color masterbatches[102] - The company is exposed to exchange rate fluctuation risks, as its main raw material, HDPE, is imported and priced in USD, making it sensitive to RMB exchange rate changes[103] - The ongoing COVID-19 pandemic presents operational risks, including potential disruptions in production, supply chain, and demand from downstream industries[106] - The company is subject to food safety risks due to its involvement in the beverage packaging industry, where regulatory compliance and product quality are critical[105] Shareholder Relations and Commitments - The company has committed to fulfilling all public promises made during the IPO process, with measures in place for any failures to comply[176] - The company will compensate investors for any losses incurred due to unfulfilled commitments, with personal accountability for responsible executives[177] - The company has made commitments to protect the interests of minority shareholders and ensure fair treatment[177] - The company will disclose specific reasons for any unfulfilled commitments and outline future action plans[178]

2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 金富科技股份有限公司 2021 年第三季度报告 证券代码：003018 证券简称：金富科技 公告编号：2021-045 金富科技股份有限公司 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的 真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 208,599,192.15 | 13.91% | 550,043,848.65 | 23.37% | | ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 341,444,656.50, representing a 29.97% increase compared to CNY 262,707,272.27 in the same period last year[22]. - The net profit attributable to shareholders of the listed company reached CNY 56,294,644.31, a 54.30% increase from CNY 36,484,983.03 in the previous year[22]. - Basic and diluted earnings per share increased by 15.79% to CNY 0.22 per share, compared to CNY 0.19 per share in the previous year[22]. - The total comprehensive income for the first half of 2021 was ¥34,848,596.02, compared to ¥26,405,009.92 in the same period of 2020, representing an increase of approximately 32.5%[141]. - The company reported a financial income of ¥9,063,110.31, significantly higher than ¥1,262,940.49 in the first half of 2020[135]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 17,776,153.23, a significant recovery from a negative cash flow of CNY -20,150,745.36 in the same period last year[22]. - Cash inflows from operating activities totaled ¥266,898,055.76, while cash outflows amounted to ¥249,121,902.53, resulting in a net cash inflow[144]. - The company reported cash and cash equivalents at the end of the first half of 2021 amounting to ¥474,328,848.78, down from ¥614,415,934.41 at the beginning of the period[146]. - The company's cash flow from financing activities included cash inflows of ¥29,992,536.00, significantly lower than the previous year's inflow of ¥79,372,210.67[149]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,311,694,694.50, a decrease of 1.95% from CNY 1,337,845,234.11 at the end of the previous year[22]. - Total liabilities increased to CNY 64,753,708.31 from CNY 48,398,892.23, reflecting an increase of about 33.9%[128][129]. - The company's net cash and cash equivalents decreased by 43.93% to -¥140,087,085.63, mainly due to the implementation of a profit distribution plan[46]. - The company's inventory decreased to ¥112,689,814.26 from ¥149,496,376.79, indicating higher sales than production during the reporting period[53]. Research and Development - Research and development investment increased by 4.55% to ¥7,226,292.82 from ¥6,911,620.32 in the previous year[45]. - The company holds a total of 100 patents, including 28 invention patents, 65 utility model patents, and 7 design patents[41]. - The company’s R&D activities are driven by customer needs and market trends, focusing on new product designs and production technology improvements[33]. Market Position and Strategy - The main business remains focused on the research, production, and sales of plastic anti-theft bottle caps, with no significant changes in the operating model during the reporting period[30]. - The company has established long-term stable partnerships with major clients such as China Resources C'estbon, JingTian, Coca-Cola, and Danone, with collaborations exceeding ten years[40]. - The company has become one of the largest suppliers of plastic anti-theft bottle caps in China, recognized for its technological research and product quality[38]. - The company plans to continue focusing on market expansion and new product development to drive future growth[135]. Risks and Challenges - The company has identified potential risks and corresponding measures in its management discussion section, which investors should pay attention to[8]. - The company has a high customer concentration risk, with the top five customers accounting for over 90% of total sales revenue[66]. - The main raw material, HDPE, constitutes over 80% of the total raw material procurement costs, making the company vulnerable to price fluctuations in the petrochemical industry[66]. Shareholder Information - The total number of shares is 260,000,000, with 195,000,000 shares (75.00%) under limited sale conditions and 65,000,000 shares (25.00%) under unrestricted sale conditions[110]. - The largest shareholder, Chen Jinpei, holds 52.79% of the ordinary shares, totaling 137,265,800 shares[112]. - The company has not issued any preferred shares during the reporting period[119]. Corporate Governance - The financial report was approved by the board of directors on August 20, 2021[166]. - The company has not engaged in any significant asset or equity sales during the reporting period[63][64]. - There were no significant environmental issues or administrative penalties reported during the period[78].

Financial Performance - The company's revenue for Q1 2021 was ¥148,154,406.10, representing a 63.47% increase compared to ¥90,631,287.95 in the same period last year[7] - Net profit attributable to shareholders was ¥22,388,840.16, a significant increase of 168.04% from ¥8,352,801.68 year-on-year[7] - The net profit after deducting non-recurring gains and losses was ¥21,752,078.44, up 165.59% from ¥8,189,964.22 in the previous year[7] - The basic earnings per share increased to ¥0.09, reflecting a 125.00% rise compared to ¥0.04 in the same period last year[7] - Operating revenue increased by 63.47% year-on-year, attributed to the recovery of operations as the domestic COVID-19 pandemic was effectively controlled[14] - Net profit increased by 168.04% year-on-year, mainly due to the increase in sales[14] - Total operating revenue for Q1 2021 was CNY 148,154,406.10, an increase from CNY 90,631,287.95 in the previous period[35] - The total profit for Q1 2021 was CNY 27,309,061.10, significantly higher than CNY 9,842,140.37 in the prior year[38] - The company's operating profit for Q1 2021 was CNY 27,309,076.37, compared to CNY 9,972,140.37 in the previous year, indicating a substantial increase[38] - The net profit for Q1 2021 reached CNY 22,388,840.16, compared to CNY 8,352,801.68 in the same period last year, representing a growth of 167.5%[38] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,367,258,606.34, a 2.20% increase from ¥1,337,845,234.11 at the end of the previous year[7] - The net assets attributable to shareholders were ¥1,311,835,182.04, up 1.74% from ¥1,289,446,341.88 at the end of the previous year[7] - The company's total equity as of March 31, 2021, was CNY 1,311,835,182.04, up from CNY 1,289,446,341.88 at the end of 2020[30] - Total liabilities increased to CNY 55,423,424.30 in Q1 2021 from CNY 48,398,892.23 in the previous period[30] - Accounts receivable increased by 106.30% compared to the beginning of the year, primarily due to a significant increase in sales during the reporting period[14] - Accounts receivable increased significantly to CNY 83,311,078.94 from CNY 48,405,193.01 in the previous period[32] Cash Flow - The net cash flow from operating activities was negative at -¥5,753,974.10, a decline of 414.65% compared to ¥1,828,669.64 in the same period last year[7] - Cash flow from operating activities decreased by 414.65%, as the increase in cash inflows was less than the increase in cash outflows[14] - The cash flow from operating activities was CNY 95,349,095.58, an increase from CNY 82,807,294.64 in the previous period[44] - The total cash inflow from operating activities was 95,516,493.72 CNY, up from 82,974,047.24 CNY in the previous year[45] - The total cash outflow from operating activities was 101,270,467.82 CNY, compared to 81,145,377.60 CNY in the previous year[45] - The company experienced a net decrease in cash and cash equivalents of 29,951,150.85 CNY during the period[46] Expenses and Financials - Tax expenses increased by 230.36% year-on-year, driven by higher sales volume and total profit[14] - Financial expenses decreased by 714.34% year-on-year, as there were no interest expenses on borrowings and interest income increased[14] - Research and development expenses for Q1 2021 were CNY 3,553,191.35, compared to CNY 2,868,610.89 in the previous period[36] - The company reported a financial income of CNY 1,769,895.70 in Q1 2021, compared to CNY 525,517.97 in the same period last year[40] - The company experienced a credit impairment loss of CNY -1,800,908.18 in Q1 2021, compared to CNY -489,621.89 in the previous year[41] - Net profit for Q1 2021 was impacted by credit impairment losses of CNY -3,342,765.80, compared to CNY -1,289,317.60 in the previous period[36] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 34,003[10] - The largest shareholder, Chen Jinpei, holds 52.79% of the shares, totaling 137,265,800 shares[10] Government Support - The company received government subsidies amounting to ¥420,191.23 during the reporting period[8] Other Financial Metrics - Other non-current assets increased by 110.79% compared to the beginning of the year, mainly due to an increase in prepaid equipment payments[14] - The company reported a decrease in inventory to CNY 110,291,213.08 from CNY 111,263,933.43 at the end of 2020[32] - The company used a total of 6.6673 million RMB from the raised funds by March 31, 2021, leaving a balance of 409.3001 million RMB[18] - The company reported a total cash outflow from financing activities of 7,817,564.53 CNY, compared to 101,226,108.84 CNY in the previous year, reflecting a reduction in financing costs[46] - The net cash flow from financing activities was -7,817,564.53 CNY, an improvement from -89,951,991.65 CNY year-over-year[46]

Financial Performance - The total revenue for JinFu Technology in 2020 was ¥514,361,903.74, representing a decrease of 14.01% compared to ¥598,163,664.03 in 2019[20]. - The net profit attributable to shareholders in 2020 was ¥88,208,974.16, down 14.99% from ¥103,767,892.25 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥83,582,432.65, a decline of 17.28% from ¥101,045,329.09 in 2019[20]. - The net cash flow from operating activities was ¥133,745,865.15, which is a decrease of 14.53% compared to ¥156,490,792.08 in 2019[20]. - The basic earnings per share for 2020 was ¥0.44, down 16.98% from ¥0.53 in 2019[20]. - The gross profit margin for the rubber and plastic products industry was 27.84%, down 4.86% from the previous year[52]. - The company reported a total revenue of 1.5 billion in 2020, representing a year-over-year growth of 15%[180]. - The company projects a revenue growth of 10% for the next fiscal year, targeting 1.65 billion in total revenue[180]. Assets and Investments - The total assets at the end of 2020 were ¥1,337,845,234.11, an increase of 56.86% from ¥852,866,642.61 at the end of 2019[20]. - The net assets attributable to shareholders increased by 81.38% to CNY 1,289,446,341.88 from CNY 710,920,067.72[21]. - The total investment amount for the reporting period was 135,948,560.16, reflecting a 48.05% increase compared to the previous year[69]. - The company has committed to invest RMB 29,256.66 million in a plastic bottle cap production base, with 3.41% of the project completed by the end of 2020[81]. - The company has invested RMB 2,408.88 million of its own funds into projects that were later replaced by the raised funds[81]. Cash Flow and Financing - The net cash flow from financing activities increased by 243.64% due to the funds raised from the initial public offering[64]. - The total cash inflow from financing activities increased by 243.64% to approximately 726.81 million CNY[63]. - The company reported a significant increase in cash flow from financing activities, indicating strong investor confidence following the IPO[64]. - The company allocated RMB 5,000.00 million of the raised funds to supplement working capital and RMB 4,000.00 million for cash management using idle funds[78]. Business Operations and Strategy - JinFu Technology has not changed its main business since its listing, indicating stability in its operations[19]. - The company focuses on R&D for new products and technologies based on customer needs and market trends, enhancing its competitive edge[33]. - The company operates a direct sales model, ensuring long-term and stable partnerships with clients through framework agreements[32]. - The company plans to enhance production capacity and expand market share over the next three years, focusing on R&D investment and product diversification[90]. - The company aims to launch new products such as pull-ring caps and seasoning caps, increasing the diversity of its main business products[92]. Market Position and Client Relationships - The company has established long-term partnerships with major clients such as China Resources Beverage and Coca-Cola, enhancing business stability[38]. - The company has established itself as one of the largest suppliers of plastic anti-theft bottle caps in China, serving major clients like Coca-Cola and Danone[35]. - The top five customers account for over 90% of the company's total revenue, indicating a high customer concentration risk[94]. - The company sources over 50% of its materials from its top five suppliers, which poses a supplier concentration risk[95]. Research and Development - The company holds 102 patents, including 28 invention patents, which support its competitive advantage in the plastic anti-theft bottle cap market[40]. - Research and development expenses amounted to 14.15 million CNY, accounting for 2.75% of total revenue, an increase from 2.54% in the previous year[61]. - New product developments included bulk supply of new products like seasoning caps and carbonated caps, contributing to new revenue growth points[46]. Risk Management - The company has implemented strict governance and risk management measures to enhance operational efficiency and compliance[48]. - The company has identified risks related to the impact of the COVID-19 pandemic, including potential decreases in production capacity and supply chain disruptions[101]. - The company faces seasonal sales risks, particularly in the beverage packaging sector, which may affect production and inventory management[99]. - The company is committed to maintaining high product quality standards to mitigate food safety risks, which are increasingly scrutinized by regulatory bodies[100]. Shareholder and Governance - The company plans to distribute a cash dividend of ¥3.80 per 10 shares, based on a total of 260,000,000 shares[7]. - The cash dividend distribution represents 112.01% of the net profit attributable to the company's ordinary shareholders for the year 2020[108]. - The company has committed to maintaining certain shareholder restrictions for a period of 36 months post-IPO[111]. - The company’s controlling shareholder, Chen Jinpei, has not changed during the reporting period[162]. Employee and Management - The total number of employees in the company is 546, with 427 in the parent company and 119 in major subsidiaries[188]. - The total remuneration for directors and senior management during the reporting period amounts to 525.29 million CNY[188]. - The company conducts both internal and external training programs to enhance employee skills and overall quality[191]. Compliance and Legal Matters - The company has not engaged in any major litigation or arbitration matters during the reporting period[128]. - There were no significant penalties or rectification measures imposed on the company during the reporting period[129]. - The company strictly adheres to the Company Law and Securities Law, ensuring compliance with governance standards set by the China Securities Regulatory Commission (CSRC)[194].